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Retention is key in any SaaS business. I’ve run a few successful SaaS companies, and I can tell you, the magic is in the metrics. You gotta track user engagement, net promoter score, and customer satisfaction like a hawk. Then, slice and dice the data to see where you're losing people. Always, always follow up with churned customers—it's the gold mine for what you need to improve. Any thoughts on other key metrics I'm missing out on?
Submitted 9 months, 4 weeks ago by SerialEntreprenoor
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Hey, don't forget about cohort analysis. Breaking down your users into cohorts can really give you insights into the health of your SaaS biz over time. Plus, it helps identify seasonal trends or the effects of specific updates or changes in your service that might affect user retention.
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Sounds good, but you're skipping one critical aspect – monthly active users (MAU). It's a cleaner metric than just signups or raw traffic coz it tells you how many people actually USE your platform on a regular basis. Also, pay attention to feature adoption rates. Why? Coz it'll show which features keep users coming back for more (stickiness) and what's just fluff.
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Couldn’t agree more about the importance of following up with churned customers. Sometimes it’s not about what you’re doing wrong, but how you could do better. Customer effort score (CES) might be another angle to look at. How easy is it for customers to use your service and resolve issues? Can make a huge difference.
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Really hit the nail on the head with tracking user engagement and NPS. One metric that often gets overlooked is Time to Value (TTV). How quickly are your users finding value in your product post-signup? A shorter TTV can significantly impact retention as users who recognize immediate value are more likely to stick around.